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#1
10-06-2006, 04:44 PM
Hummer Professional
Join Date: Jun 2006
Posts: 373
How many use the tax deduction for GVW?
The other day at Starbucks a gal was ribbing me about "peak oil" and my H2 being a gas hog, nothing mean, just a different point of view.
I said, you wanna know one of the best things about a gas hog like the H2? It weighs so much you can actually deduct it's cost from your taxes!
So, how many here use the GVW deduction and how do you use it? I've got an accountant to ask, but there's a fee for that 
#2
10-06-2006, 04:53 PM
Hummer Guru
Join Date: Oct 2005
Location: I CAN BARELY SEE THE ROAD...
Posts: 4,624
Re: How many use the tax deduction for GVW?
You have to own your own company....
25K first year pretax.
Percentage of remaining each year thereafter until it zeros.
Every dime you spend on it is a writeoff aswell....gas, oil, tires, etc.
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#4
10-09-2006, 11:21 PM
Hummer Authority
Join Date: May 2006
Location: South Western PA
Posts: 1,433
Re: How many use the tax deduction for GVW?
been using it for years....gotta love it!
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2009 H2 Silver Ice LE
2008 H2 Lux Series, Slate Blue, everything but the air suspension - sold
2006 H2 Lux Series, Uplevel Chrome, DVD's, Slate Blue, Sun Roof - sold
"If Life Gives You Limes, Make Margaritas" - Jimmy Buffett
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